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May 24, 2010 / Hal (GT)

The State of the Economy as the Week Starts.

Well, the state of the economy is….. haha. Let me edit that sentence.

How about: The State Economy as the week starts?

I jest… well, in part. I continue to be astounded at the the moves of the government to attempt to control the economy and make it dance to their wishes.

Okay, okay… Back on target here. The economy we are being told is improving, but I don’t know about you, I’m not seeing it. Here’s a personal observation. Houses in my area are are now selling sub $50k That’s incredible for around these parts. Look, maybe I’m wrong, maybe things are looking up, but I just personally don’t think that is the case. Nothing has changed! There’s been no repentance over the ills that were committed.

Since I’ve begun with housing I suggest you see Expected Returns post:

Existing Homes Sales Rise 7.6%, Inventories Rise 11.5%

As I’m still in a housing mindset check out:

FHA Outdoes Fannie and Freddie, Signals “a Very Sick System”

The FHA is the new Fannie/Freddie and between them, have financed 90% of new home loans in the US. That’s not just government intervention, it’s full-on life support. And yet Fannie and Freddie aren’t truly a financial obligation of the United States?

Now how about jobs, Jim Sinclair has something on that:

April mass layoffs rise led by manufacturing

And I was simply laughing my head off and slapping the desk when I saw the video that Peter Grandich made everyone aware of today. I’ll insert it here for you.

I have one item for you in regard to gold:

Speculators Grab Gold Faster Than Mines Can Produce It

Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920.

I think more and more, people are seeing gold as currency.

I was happy to see today when loaded up ExactPrice and discovered that gold was up. Last night I had an inkling that it would be when I check ExactPrice last night when the foreign markets opened. If you are looking for a application to monitor in real time the spot price on gold, silver, and platinum then give the free app a try. It runs using Adobe Air’s platform and the mobile edition works on any device you can point at a the web address:

Right now Gold is $1,193.00. Silver $17.93. Platinum $1,532.40.


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